Most firms face cyber incidents but lack basic security measures: Study

Many lack knowledge, worry about costs, express scepticism over likelihood of attacks

- Osmond Chia

A majority of companies lacked essential cyber-security measures recommended by the Cyber Security Agency of Singapore (CSA), even as four in five firms experienced a cyber-security incident each year, a new study has found.

Many respondents cited a lack of knowledge of cyber security, as well as concerns about costs and whether they would even be a target of cyber threats.

These were among the findings in CSA's inaugural Singapore Cybersecurity Health Report, following a study of cyber-security adoption and the challenges firms face.

The survey, which was released on March 28, was conducted between May and August 2023 and involved 2,036 organisations of all sizes across 23 industry sectors and more than seven non-profit organisation sectors.

Many firms missed out on basic cyber-security measures, CSA found, adding that any gap in implementation is "inadequate" and can expose them to cyber threats.